This is the continuation of the Flip2Freedom podcast transcription. In this episode, Sean interviews the nation’s #1 wholesaler, Kent Clothier, and finds out how he created a wholesaling empire – averaging over 50 deals a month.
Sean: And, it’s proven, right? I get a lot of questions from people too, and they say, “I’m new or I’m getting started, I maybe have one to two deals under my belt” They are in the market, and they see other large wholesalers in their particular market. And, they’re going, “What is going to give me the edge? How am I going to compete with all of these big guys in the marketplace? What is going to give me that edge?”
For something like this, having access to real-time cash buyers, that is an edge that can put you from a nobody into a rock star in a matter of months because you do this. Can you take this cash buyer database, and then co-wholesale, so if you’ve got other large wholesalers in your marketplace . . .
Kent: On co-wholesaling, yes. Whatever your means of disposition of the property is, cash buyers are going to work with anybody, with anything. We have people that buy and sell notes and use our cash buyer database; we have rehabbers that use our database. It really doesn’t matter, cash buyers are cash buyers, period.
Sean: Right. So, for someone who is new and they’re going, hey if you break into the market and you get two or three wholesalers that are putting out inventory on the marketplace, you can tie those properties up on an option, offer them to your buyers on your database and literally make the spread in between. Now, it might not be $22,000, but it could be $3000, 5000, 7000 or whatever the case may be. If you do that you don’t have to market for the properties, but you can use the two together.
Now, I don’t suggest building a monstrous business around that, but having your own inventory is obviously better in the marketplace. But, that is definitely a great way to get started.
Kent: No, I think that is a really, really important point. Because, you get reverse as well. You get people that say, now that I have the buyers how do I go and find the properties? And, just kind of reiterate your point, I promise you if you have a handful of cash buyers in your back pocket, and you are effectively communicating to other wholesalers, or other realtors, or other real estate professionals in your market right now. And, you tell them, “I have cash buyers that want to buy three to five properties each. They want to buy in the South East part of the county, they want to pay this price, etc.” You will have an army of people that will bring you properties all day long because they don’t have those cash buyers.
Sean: Right, which is huge.
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